© Reuters. FILE PHOTO: Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, U.S., May 22, 2023. REUTERS/Mike Segar/File Photo
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said he would err on the side of overtightening monetary policy rather than not doing enough to bring inflation down to the central bank’s 2% target, the Wall Street Journal reported on Monday.
“Undertightening will not get us back to 2% in a reasonable time,” Kashkari said in an interview with the Journal.
Kashkari said he needed more information to come to a firm decision on interest-rate steps moving forward. “I am not ready to say we are in a good place,” he told Journal.